SBA Communications (NASDAQ:SBAC) Reaches New 1-Year Low - Time to Sell?

Key Points

• SBA Communications' stock reached a new 52-week low of $191.28, closing at $192.50, indicating a decline in investor sentiment.
• Analysts have mixed ratings for the stock, with a consensus rating of "Moderate Buy" and a price target averaging $256.38.
• The company announced a quarterly dividend of $1.11 per share, with a current dividend yield of 2.4%.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report)'s stock price hit a new 52-week low on Monday . The company traded as low as $191.28 and last traded at $192.50, with a volume of 95856 shares. The stock had previously closed at $197.74.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBAC. Morgan Stanley boosted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a report on Tuesday, May 20th. Scotiabank started coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. Finally, Bank of America cut shares of SBA Communications from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Stock Performance

The business's 50-day moving average price is $223.83 and its 200 day moving average price is $224.88. The stock has a market capitalization of $20.14 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. SBA Communications's dividend payout ratio (DPR) is currently 56.42%.

Institutional Trading of SBA Communications

Several large investors have recently added to or reduced their stakes in SBAC. JPMorgan Chase & Co. grew its holdings in shares of SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock valued at $1,314,265,000 after buying an additional 1,715,541 shares during the last quarter. Norges Bank purchased a new stake in shares of SBA Communications during the second quarter valued at approximately $351,084,000. Dodge & Cox grew its holdings in shares of SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after buying an additional 1,139,009 shares during the last quarter. Nuveen LLC purchased a new stake in shares of SBA Communications during the first quarter valued at approximately $152,973,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of SBA Communications by 799.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,308 shares of the technology company's stock valued at $134,166,000 after buying an additional 507,815 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

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